Cap.1 Dit ferentiate broadly between financial Accounting and mordigerial accounting. p.4 3 How does accounting help the capital allocation process? 2.4-5 S. Brefly explain the meaning of cocism- Ureful less in the context of financial reporting p.5 7. Chat is the likely Uimitation of general- purpose financial stalenients? p.05 9. What was the Committee on Accounting Procedure, and what, gerentang accomplishments and falings? p.9. 1 Distinguish between Opinions of the Accounting principles pards and Accounting Standards Updates. p.a/p.11 13. In what was toas it felt that the pronouncements issued by the Financial Accounting Standards Board wood care arealer weight than the opinions issued by the Accounting Pncipoo Barcis p.9 15. Distinguish between FASB Accounting Standards updates and FASB Statements of Financial Accounting concepts.p.11-12